It's not. I hope that a judgement against you has not been entered yet. You need to take swift and meaningful action here, because this debt is not stats barred.

I would, if it's not too late, speak to a trustee immediately with a view to filing a consumer proposal or BK, especially since your future job prospects seem promising according to your own words.

Your credit will be clear six years after the date of discharge (or three after you satisfy a consumer proposal) although this is a ton better than having a 10 year plus 10 year option on an unsatisfied judgement and 6 years after it's satisfied.

Lenders will actually grant mortgages after BK in as little as 2-3 years after discharge in some cases, and you can use a secured card to re-establish credit when your situation is stabilized.

Well, were he to award interest plus legal fees, on top of the $14 700 I owe, it could be in excess of $17000+. And if that being the case, it's hard for me to see how this is preferable to bankruptcy?

No they generally will leave the principal amount alone but reduce the interest that has accumulated. Any amount awarded will also include an interest rate of anywhere from 4 to contract rate plus court costs and a least a portion of their legal fees.
Again given you really have no income except EI....tough to say what terms he will impose. Again he will take into account your current financial position and what you could reasonably be able to pay.....and still eat.

This is good, it's helping me develop insight as to their psychology/strategy going into this thing. In regards to your previous post, hypothetically, were we not able to work out an agreement at the settlement hearing and go to trial, do judges typically dictate terms that add up to less than the full amount? e.g I owe $14 000, and CRS wants 100%, but I demonstrate an inability to repay that in a reasonable time frame (i.e 36-60 mos), can/do they rule a lesser figure? i.e 50% to be paid in 48-60 mos, etc?

I have seen rulings for as little as 20 bucks a mth.
Depends on your means to pay.
Assuming they can prove the debt the outcome will be a judgment against you.
Having said that....obtaining a judgment is one thing....collecting on it is another. If payment terms are given by judge if you fail to meet them then they are free to try other avenues to satisfy it such as garnishees etc.

So regardless of the outcome at a trial, it is rendered as a "judgement"? And does that strategy fit in with them taking it to trial and letting a judge dictate terms? And if so, what kind of terms does/can a judge dictate to someone unable to pay them in full?

A judgment remains on file for 6 yrs.
If you come to no agreement at this meeting it goes to trial where a judge will issue a judgment.

Excellent insight there, T.J, thanks. So if they reject any proposed settlement at the hearing, can the adjudicator "rule" in my favour, or do the plaintiffs have to be agreeable? And if bound over for trial, how receptive would/will a judge be to rule in my favour? Would he/she be open to accept my presentation to withholding a judgement and allowing me to make arrangement with them? Do judges typically grant judgements in favour of plaintiffs if that is the plaintiff's favourable outcome? I'm just trying to figure out a way to achieve an outcome that allows me to work out an arrangement, ideally at a reduced rate, and that avoids a judgement against me. I am seeking employment in the banking sector, where a judgement against me would be "fatal" to any employment prospects in that field.

*Also, if a judgement is rendered, does it come off once paid?

If it were me I would still go for the judgment and after securing it try to work out some arrangement with you.
At least I would have something to fall back on.
Since the judgment will appear on your credit report it will be an incentive for you to pay it off quickly as you will be unable to get any further credit with it there.
They have nothing to lose and you are in no position to bargain.
Had this been a Stats barred debt then you would have something but sadly it is not.

Ah, I see. In your opinion then, do you think it will be in my interest, and do you think they will be amenable to, withholding judgement or working out a settlement that will allow me to pay it off? My employment prospects are favourable right now.